Join the sharing economy

In North Helford, Cornwall, this grade II* listed six-bedroom house is on sale for £1.85 million (Savills)STEVE EARL-DAVIES

When George Osborne, the former chancellor, announced that he was increasing the stamp duty payable on holiday homes by 3 per cent in 2016, it was assumed that many of us would stop buying them.

To the surprise of many, including property market analysts, this turned out not to be the case. The number of holiday homes bought after the introduction of the surcharge has remained steady, at about 25,000 a year. Britons have not given up on the dream, despite the higher tax.

Instead we have adapted by buying holiday homes with other family members. Much like the sharing economy enables us to make money from the things we own, intergenerational holiday homes mean the costs are shared and the asset can work harder.

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